Sensex surges over 237 points, near 6-week high
The Bombay Stock Exchange benchmark Sensex surged over 237 points to reach a near six-week high on aggressive buying.business Updated: Apr 17, 2008 16:24 IST
The Bombay Stock Exchange benchmark Sensex on Thursday surged over 237 points to reach a near six-week high on aggressive buying by funds in fundamentally strong stocks, chiefly from realty, metal and banking sectors.
The Sensex, which has been advancing since the last three trading sessions, moved up further by 237.01 points to 16,481.20, a level last seen on March 4. The key-index touched the day's high of 16,570.57 and a low of 16,397.17 points.
The National Stock Exchange index Nifty rose by 71.10 points to 4958.40, after touching the day's high of 4984.95 and a low of 4889.65 points.
The major support to the market came from realty stocks. Realty sector index rose the most by 292.77 points at 7638.73 followed by metal index by 526.81 points at 14,661.13.
Information technology sector index shot up by 144.40 points at 4150.90 as segment major Infosys Technology remained in bull-orbit for the third straight session as the company posted better-than-expected financial results and attractive forecast.
A firming global trend continues to boost the trading sentiment, which further bolstered on expectations of better monsoon this season.